PE fund invests in local bakery chain
January 24, 2011 | BY
clpstaff &clp articlesEQT Greater China II (EQT) has acquired a majority stake of Qinyuan Bakery (Qinyuan). The buyer is a private equity fund focusing on mid-market buyouts…
EQT Greater China II (EQT) has acquired a majority stake of Qinyuan Bakery (Qinyuan). The buyer is a private equity fund focusing on mid-market buyouts and control investments in Greater China. Qinyuan is a retail bakery chain in Southwest China with about 40% of the market share in Chongqing and Guiyang. It owns four bakery plants and has over 200 stores.
EQT will acquire a total of 65% of Qinyuan over a two-year period and subject to certain conditions.
A Beijing-based Clifford Chance team led by Terence Foo represented EQT. Haiwen & Partners served as PRC counsel to EQT. Qinyuan was advised by Jun He Law Offices.
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